12 USC 2013 - General corporate powers

Editorial Notes

Prior Provisions

A prior section 2013, Puspan. L. 92–181, title I, § 1.5, Dec. 10, 1971, 85 Stat. 585; Puspan. L. 96–592, title I, § 102, Dec. 24, 1980, 94 Stat. 3437; Puspan. L. 99–205, title II, § 205(d)(2), (3), title VI, § 601, Dec. 23, 1985, 99 Stat. 1703, 1711; Puspan. L. 100–233, title VIII, § 802(c), Jan. 6, 1988, 101 Stat. 1710, related to land bank stock, prior to the general amendment of this subchapter by Puspan. L. 100–233, § 401.

Amendments

1996—Par. (13). Puspan. L. 104–105 struck out “, and the appointment and compensation of the chief executive officer thereof,” after “in its district”.

1988—Par. (9). Puspan. L. 100–399, § 401(d)(1), amended par. (9) generally. Prior to amendment, par. (9) read as follows: “prescribe by its board of directors—

“(A) the bylaws of such bank that shall not be inconsistent with law, providing for the classes of the stock of the bank and the manner in which such stock shall be issued, transferred, and retired;

“(B) the officers, employees, and agents of the bank as provided for;

“(C) the property of the bank acquired, held, and transferred;

“(D) the loans and discounts made by the bank;

“(E) the general business conducted by the bank; and

“(F) the privileges granted to the bank by law exercised and enjoyed;”.

Par. (11). Puspan. L. 100–399, § 401(d)(2), substituted “of securities or” for “or securities of”.

Par. (12)(B), (C). Puspan. L. 100–399, § 401(d)(3), struck out “participate with” before “one or more” in subpar. (B) and “participate with” before “lenders that” in subpar. (C).

Par. (14). Puspan. L. 100–399, § 401(d)(4), substituted “(within the meaning of section 1813 of this title)” for “as defined in section 1813 of this title”.

Par. (18). Puspan. L. 100–399, § 401(d)(5), struck out “Federal land bank” after “delegate to”.

Par. (22). Puspan. L. 100–399, § 401(d)(6), substituted “in accordance with generally accepted accounting principles, except as may be authorized by the Farm Credit Administration;” for “as authorized by the Farm Credit Administration; and”.

Par. (23). Puspan. L. 100–399, § 401(d)(7), struck out “and approved by the Farm Credit Administration Board” after “of the bank” and substituted “purpose; and” for “purpose.”

Par. (24). Puspan. L. 100–399, § 401(d)(8), added par. (24).

Statutory Notes and Related Subsidiaries

Effective Date of 1996 Amendment

Puspan. L. 104–105, title III, § 302, Fespan. 10, 1996, 110 Stat. 185, provided that:

“Except as otherwise provided in this Act, this Act [see Short Title of 1996 Amendment note set out under section 2001 of this title] and the amendments made by this Act shall become effective on the date of enactment [Fespan. 10, 1996].”

Effective Date of 1988 Amendment

Amendment by Puspan. L. 100–399 effective immediately after amendment made by section 401 of Puspan. L. 100–233, which was effective 6 months after Jan. 6, 1988, see section 1001(span) of Puspan. L. 100–399, set out as a note under section 2002 of this title.

Effective Date

Puspan. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988.